Broker Type: STP,NDD
Regulation: FSCL of New Zealand
Headquarter: Auckland, New Zealand
Established: 2010
Forex Broker reviewed: RoboForex

Roboforex is a solid broker with quite complete features that could provide a convenience and stable trading environment for you. Despite their name, they don’t offer free auto-trading , but they do allow all kinds of EA run on their MT4 platform and provide free VPS service for certain account type.

Pros and Cons

Pros
1. Bonus deposit up to 30%
2. Rebates services
3. Mobile forex. This isn’t application in your mobile, but a mobile-based site that you could access from your mobile phone.
4. Free VPS (according to specific terms and conditions)
5. Fast withdrawal

Cons
1. In ECN account, the commission charged for every lot traded.
2. Need improvement in their customer support.

RoboForex Review – Features

1. Spread

RoboForex gives clients an option to select the terms of trading operations: fixed or floating spread. You’ll get fixed spread for Fix account and variable spread for Pro and ECN account. Their typical spread for the popular EUR/USD is:
Fix: 2
Pro: 0.9
ECN: avg on 0.7; their ECN account is provided by Integral and Currenex.
I’d say that 2 fixed spread for EUR/USD is quite a good deal in the industry.

2. Leverage

Offer up to 1:500; this is considered really high among other forex brokers.

3. Commissions

As STP broker, they gain profits from the difference between bid and ask price, thus no commission is charged. However, there is $3/lot commission in their ECN account.

4. Deposit

Minimum deposit is $10; you could open either Fix-Cent or Pro-Cent account with this. You can do this via Debit and Credit Cards, Liberty Reserve, Moneybookers.com, Webmoney, CashU,  Perfect Money,  LiqPAY .

5. Strategies (hedging, scalping, EA, Islamic Account)

RoboForex doesn’t limit any trading strategy. Hedging, scalping, trailing stop, and forex robot are allowed. Swap-free Islamic account also available.

6. Trading Platform

They provide MetaTrader4 and Power Trader. Mobile version and web-version also available.

7. Citizenship

Accept all citizens including US citizen.

8. Instruments

Over 200 trading instruments area available.

9. Order Execution

Depend on the account type, you could get Instant or Market execution.

10. Regulation

Here’s their statement:
ROBOFOREX LP is a member of Financial Services Complaints Ltd. FSCL is an independent not-for-profit External Dispute Resolution (EDR) scheme approved by the Minister for Consumer Affairs under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. It was the first Scheme to be approved and has been designed for and in consultation with the Financial Services Industry and has been built on principles of efficiency and effectiveness. It is governed by an independent Board with equal consumer and industry representatives. FSCL provides dispute resolution services to participating financial service providers (FSPs) and their clients.

You could see RoboForex in FSCL official site: http://fscl.org.nz/lop.php?t=tsp&p=1&l=r

RoboForex Review – Conclusion

As I said before, RoboForex provide quite solid services for traders, both manual and forex robot users. The spread is good, you could withdraw your money fast, and the mobile trading feature is just great; no more looking suitable apps for your phone OS. The ECN commission term isn’t very good though, I’d look for somewhere else if ECN is what I want. Overall, a decent broker to help your trading.

Visit RoboForex